Face Divorce After 50 With Confidence
Divorce at any age is a difficult process for most people. Emotionally, practically and financially, it is disorienting in most cases to separate completely from someone whose life has been intertwined with yours on many levels. You must start again with a new identity, divide assets, agree to or at least accept a workable child custody agreement if applicable and deal with all related legal processes and expenses.
Yes, divorce is a challenging endeavor during any decade of life and after any length of time. Younger couples (in their 20s or 30s) often struggle over child custody and support issues. Middle-aged couples in their 40s and 50s may face daunting challenges while dividing real estate and other assets. Married people in their 50s, 60s or 70s approaching "gray divorce" or late-in-life divorce often deal with especially difficult negotiations over issues such as:
- Disparate incomes in long-term marriages: When one spouse (often a wife, but sometimes a husband) has been dependent for decades, she or he may be unable to support herself or himself without spousal support.
- Health and/or disability: Ensuring that both spouses will have health insurance can be an obstacle if insurance comes through the employment of just one partner. A family law judge may expect the higher-earning spouse to purchase health insurance for the dependent spouse after the divorce — and this can be a high-ticket item. If one spouse is disabled, the question of alimony or spousal support becomes more critical.
- Retirement income: Income that will kick in at retirement age takes on great importance when that time is not far off. Dividing pensions, 401(k) savings accounts and IRAs means obtaining qualified domestic relations orders (QDROs) and accounting for all such resources, including deferred executive compensation packages.
- Real estate: Dividing property, including the marital home and any other real estate, may require tough decisions. Selling one's longtime home can be an arduous process. If a property is "upside down," with a mortgage that is higher than the house can be sold for, this takes on additional difficulties. On the other hand, assigning the house to one spouse means that spouse will have burdens of taxes, insurance, upkeep and eventual sale. Second homes or business or investment properties may belong partially to extended family members or business partners, making division trickier.
Family law attorney Brian D. Williams has an academic background in accounting and economics and is a former accountant. This background makes him well-suited to advise clients knowledgeably in financial aspects of divorce after 50 or at any age.
Texas Attorney Brian D. Williams Can Help You Through The Process Of A Late-In-Life Divorce
Harris County family law attorney Brian D. Williams is well-suited to help an older adult negotiate or fight for fair treatment in a divorce after age 50. He prides himself on thoroughness and brings depth and breadth of knowledge thanks to years of experience as a Texas divorce attorney. To schedule an initial consultation, call 832-717-0678 or contact the Spring law offices via email.
Se habla español.